Gov't Cuts Import Duty By 50%, Cars 30% Effective April 4

Business & Finance Gov't Cuts Import Duty By 50, Cars 30 Effective April 4

APR 3, 2019 LISTEN

Government says effective Thursday, April 4, there will be a clear reduction in import duty at all of the country’s ports.

Vice President Dr. Mahamudu Bawumia, who disclosed this at the Economic Management Team (EMT) town hall meeting Wednesday, said, imports duty will be reduced by 50 per cent while importers of vehicles will enjoy a 30 per cent reduction.

During a recent visit to Worchester, Massachusetts, President Akufo-Addo told a crowd at a Town Hall meeting that he plans to reform Ghana’s imports duty regime with the intent to alleviate high taxes at the country’s ports.

He assured Ghanaians that government is already working on the deal and indicated that he is aware of petitions received by the state to revise the current import duty regime.

“We have realised from the studies we have done that our ports are not competitive, and the imports regime in our country is far too high,” he said.

“We are dealing with it, and, very soon, the measures that government will roll out will become known to all of you. I am not talking next year, or in 6 months’ time, I am talking very, very soon.”

More soon….

—Myjoyonline